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IMF Working Paper-Can Digitalization Help Deter Corruption in Africa?
May 29, 2020--Summary:
This paper studies the effect of digitalization on the perception of corruption and trust in tax officials in Africa. Using individual-level data from Afrobarometer surveys and several indices of digitalization, we find that an increase in digital adoption is associated with a reduction in the perception of corruption and an increase in trust in tax officials.
Exploiting the exogeneous deployment of submarine cables at the local level, the paper provides evidence of a negative impact of the use of Internet on the perception of corruption. Yet, the paper shows that the dampening effect of digitalization on corruption is hindered in countries where the government has a pattern of intentionally shutting down the Internet, while countries that successfully promote information and communication technology (ICT) enjoy a more amplified effect.
view the IMF Working Paper-Can Digitalization Help Deter Corruption in Africa?
Source: IMF
Floor trading resumes at NYSE-with masks and plexiglas
May 26, 2020--The New York Stock Exchange, the symbolic heart of Wall Street, reopened its floor Tuesday after a two-month closure due to the coronavirus, with traders donning masks and separated by plexiglas.
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Source: FIN24
Rand strengthens thanks to lockdown easing globally
May 25, 2020--The rand, which was seen heading past R20 to the US dollar, has strengthened in recent weeks as the world's leading economies ease lockdown restrictions.
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Source: FIN24
Nigeria: Economy Will Definitely Go Into Recession-Finance Minister
May 22, 2020--An assessment by the Nigeria Bureau of Statistics indicates that Nigeria's economy will go into a recession at an average of-4.4 per cent, the finance minister, Zainab Ahmed, has said.
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Source: allafrica.com
The rand's rebound is gathering momentum
May 20, 2020--The rand's comeback seems to be gathering momentum.
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Source: FIN24
Nigeria: Report Predicts U.S.$17 Billion Decline in Nigerian Oil Revenue
May 18, 2020--Nigeria's oil revenue is likely to decline by between 70 per cent and 80 per cent this year, representing between $15 billion and $17 billion, the Chief Executive Officer of Financial Derivatives Company Limited and a member of President Muhammadu Buhari's Economic Advisory Council, Mr. Bismarck Rewane, has predicted.
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Source: allafrica.com
Markets wrap Firmer close in Asia lifts JSE All-Share Index
May 16, 2020--On the currency market, the rand traded softer against the greenback as it slipped to a session low of R18.77/$.
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Source: FIN24
Nigeria: Report Highlights Investment Opportunities
May 15, 2020--Amid current global market turbulence occasioned by lockdowns in many economies due to the COVID-19 concerns, a report by the FBN Private Banking has revealed unique investment opportunities which Nigerian investors can leverage to survive.
The latest edition of the Wealth Management Digest, a periodic report of the FBN Private Banking's global economic review, listed some of such investible and profitable business opportunities as FGN Eurobonds, Eurobonds mutual funds, stock market, real estate, foreign currency, among others.
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Source: allafrica.com
Markets wrap JSE retreats as global markets fret over economic growth
May 13, 2020--Deep losses were recorded across most European benchmarks except the FTSE 100 which managed to trade relatively flat on the day.
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Source: FIN24
Local stocks edge higher as optimism remains
May 13, 2020--Still, there was disappointment in terms of economic data following the release of the SACCI Business Confidence index data for April which came in at 77.8, compared to a forecast of 89.2.
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Source: FIN2
